The national government’s subsidies to state-owned and -controlled firms declined by 51.9 percent in August, according to a report released by the Bureau of the Treasury (BTr).
Financial support to government-owned and -controlled corporations (GOCCs) decreased to P9.1 billion in August, down from P18.9 billion in the same month of 2023.
The National Irrigation Administration and the Philippine Crop Insurance Corp. were the only billion-peso recipients during the month, receiving P5.6 billion and P1.9 billion, respectively.
As of the end of August, GOCC subsidies totaled P87 billion.
Source - bilyonaryo.com
